How will the ModulTrade platform connect 400mln MSME’s to global trade?

When the founders first got together and created what we now know as ModulTrade, we immediately knew that we wanted to give MSME’s the same opportunities and chances that larger counterparts have with global trade. The next question we asked ourselves was, how?

Blockchain technology has changed and is still changing how businesses operate. While traditional institutions in the banking world rest, we identified the wide scope and opportunity blockchain technology offers to global trade, for the better, and made the decision to take this from an idea on paper to a full end-to-end trade product.

By leveraging on the smart-contract blockchain based technology, our aim is to build a value ecosystem fit for global trade. A digital network value structure that is real-time, accessible at any time, from anywhere in the world. It will feature cost effective solutions and provide a stepping stone to supporting future fintech developments.

With blockchain technology the base of our ecosystem, the platform will work by connecting users through four main components:

1. Blockchain based smart-contract multi-sided platform (MTP): to replicate banks’ trade finance instruments (Letter of Credit and Guarantee) and to offer users this service in a trustful and cost-effective way, while also connecting them to other services ​like ​logistic ​and ​insurance;
2. Trade related services platform: to simplify trade execution via 3rd party service providers ​e.g. ​payments, ​logistic, ​financing, ​tax and ​bookkeeping;
3. Trade & Reputation network: to facilitate monetary transactions of users within their reputation capital being a function of reputable collaboration within the ​ecosystem;
4. Marketplaces: to find reliable counterparties globally and to make optimal choices of goods ​and ​prices.
5. And it is in this framework the ModulTrade ethereum based token, MTRc, will be used as a key for users to meet, commit and execute trade — all within a trusted, secure and safe environment.

With our four-pillared solution as a means of turning an idea into reality, we find ourselves at the forefront of revolutionising the way MSME’s around the world will trade. All by utilising blockchain technology to its full potential.

Follow us for more from ModulTrade. Coming up next in our blog “The philosophy of ModulTrade: What does the smart-contract mean for us and why will it be irreplaceable for small enterprises?”